Revenue has increased by 100% for four consecutive years. Xiaoge Intelligence, a commercial dishwasher leasing platform, has completed a new round of financing | Exclusive Report by Hard Kr

Author: Ou Xue

Editor: Peng Xiaoqiu

Yingke has learned that recently, Jiangsu Xiaoge Intelligent Equipment Co., Ltd. (hereinafter referred to as "Xiaoge Intelligent"), a provider of commercial dishwasher leasing and intelligent solutions, announced the completion of its third - round (Series A) financing, with tens of millions of yuan already transferred. This round was led by Nanjing Liuyi Capital. The funds from this round of financing will be mainly invested in two major areas. One is to build an intelligent manufacturing factory in Anhui; the other is to expand into the global market. After entering the Hong Kong Special Administrative Region of China, the business will be extended to regions such as Singapore and the Taiwan region of China.

Xiaoge Intelligent was established in 2021, focusing on the B - to - B commercial dishwasher leasing business. It mainly serves customers such as chain restaurants, factories, schools, and government canteens, including brands like Waipojia, Xiaocaiyuan, Haidilao, and Lvcha. In addition to leasing, it also provides supporting equipment operation and SaaS software services.

Cheng Minhua, the founder and CEO of Xiaoge Intelligent, graduated from Huazhong University of Science and Technology with double degrees in computer science and management. He has been deeply involved in the cleaning and disinfection field for more than a decade. The core members of Xiaoge's promotion system, equipment, and cloud computing teams come from Alibaba.

Cheng Minhua said that the decision to expand into the international market at this time is based on multiple considerations. "Firstly, China has strong advantages in the manufacturing industry; secondly, the domestic market has a limited ceiling, and going global can expand the market space. Moreover, the penetration rate of dishwashers in overseas markets is high, making it easier to enter."

The commercial dishwasher industry is currently enjoying two major dividends: the increasing penetration rate and the rise of the leasing model. Cheng Minhua believes that the disinfection function of commercial dishwashers meets the requirements of food and drug supervision, and large - scale chain restaurants have an urgent need for safe tableware. This will strongly promote the continuous increase in the penetration rate of dishwashers in the catering industry, thereby achieving steady business growth.

Meanwhile, "the leasing model is just emerging in China, but it has shown a longer lifecycle and stronger resilience than direct equipment sales," Cheng Minhua said.

In fact, under the traditional equipment sales model, enterprises not only have to bear the procurement cost of tens of thousands of yuan, but also the annual maintenance cost of more than 5,000 yuan is common. In addition, management problems such as leakage of cleaning agents and unstable washing effects occur frequently. According to Cheng Minhua's observation, overseas experience has shown that this model separates the right of use and ownership of equipment, allowing leasing companies to efficiently integrate resources, improve equipment utilization, reduce idle waste, and meet customer needs, with great development potential.

Yingke has learned that Xiaoge Intelligent has always taken intelligent equipment as its core foundation. It is promoting the digital and lightweight transformation of the commercial kitchen industry and accelerating the digital infrastructure construction of commercial kitchen equipment leasing through an integrated solution of "equipment leasing + intelligent services + data - driven".

"The intelligentization of equipment is an irresistible trend, especially in the field of commercial kitchens," Cheng Minhua said. Currently, the intelligentization of commercial kitchens lags behind that of consumer - oriented products, which are already highly intelligent. There is even a lack of basic functions such as the Internet of Things and remote control. In Cheng Minhua's view, this represents a huge development space. Once traditional industries complete intelligent transformation, they can break through the competition bottleneck in the existing market and embrace brand - new development opportunities.

Xiaoge Intelligent's equipment is equipped with the "Xiaoge Kitchen" mini - program, which can record in detail the installation, maintenance, and consumption of consumables. At the same time, the equipment also has an "intelligent diagnosis" function. Each device is equipped with a sensor matrix that can collect 14 items of operating data in real - time, such as temperature, water pressure, and the amount of cleaning agent used, and synchronize them to the cloud management system via the 4G network.

In addition, in terms of energy - saving design, Xiaoge Intelligent's 5.71KW power combined with heat recovery and hot - cold diversion technology only consumes 0.15 kWh of electricity per basket of washing (compared to 0.3 kWh for traditional equipment), driving a two - fold year - on - year increase in equipment shipments in 2024.

Xiaoge Intelligent's commercial dishwasher (Source/Enterprise)

As of 2025, Xiaoge Intelligent has served more than forty of the top 100 catering enterprises, covering nearly 20,000 stores. The full - process operation cost savings for each store exceed 30,000 yuan per year. Cheng Minhua further revealed to Yingke that the company's equipment sales are expected to reach tens of thousands of units this year, with a market share approaching 40% - 50%, and the revenue basically doubles every year.

In terms of products, Cheng Minhua hopes that Xiaoge Intelligent will launch more intelligent, stable, and low - cost products. In terms of the service network, in the next 3 - 5 years, the company plans to expand its service points from provincial capitals to more than 800 lower - tier cities across the country, with a total of over 1,000. The overseas goal is to become the global leader in the industry, with at least one service point in each country.

In terms of business expansion, Cheng Minhua said that Xiaoge Intelligent plans to enter the entire back - kitchen scenario in the future. Currently, the company has launched chemicals and pre - equipment related to dishwashers, and will later expand to other commercial kitchen equipment such as ice makers and ovens.

Views of the investor:

Tao Hongwei, a senior partner of Liuyi Capital, believes: Since its establishment, Xiaoge Intelligent has always adhered to its original mission and has achieved remarkable results in product R & D, market expansion, and talent team building. In 2022, Liuyi Capital keenly noticed the broad prospects and investment opportunities of Xiaoge Intelligent in the commercial dishwasher field and actively assisted and participated in its angel - round financing. As of today, the number of Xiaoge Intelligent's service customers has been increasing rapidly year by year, with a comprehensive growth of over 500%.

In 2025, we will continue to support Xiaoge Intelligent in its continuous innovation in the R & D system and production line technology, and help it accelerate the construction of market barriers and comprehensively expand its market territory. We have every reason to believe that Xiaoge Intelligent will continue its current performance growth trend and may even strive for an IPO in its industry's segmented category.